Law firms
Singh & Associates, Delhi BCD exec chair Manoj K Singh raided by IT: ‘Strongly deny’ cash seizure [UPDATE-1]
The law firm Singh & Associates, which has been on a lateral hiring spree this year, has been raided by the government’s Income Tax Department (ITD) yesterday as part of a raid on its founding partner Manoj K Singh.
Delhi HC in Saraf v Luthra: No injunction, mediate! [READ ORDER] • With AM Singhvi, NK Kaul, Nigam, Dayan Krishnan, ex-Trilegalites Das, Mukherjee
19:27: Apologies for the slight delay in updates. The order is out and has told the parties to mediate with Sriram Panchu tomorrow (Saturday 17 October) or by Sunday (18 October) at the latest, but without granting any stay orders to Saraf (which puts him in the position where he is locked out of his firm email and Luthra has notified all clients that they can’t work with him, even on ongoing matters).
Kanga corp-real-estate solicitor-partner Bhoumick Vaidya joins SAM Mumbai with team
Shardul Amarchand Mangaldas has hired Bhoumick Vaidya, partner at Mumbai solicitors firm Kanga & Co, in as a partner with his team of five.
Analysing the partnership deed, as Rajiv Luthra makes ‘termination’ fait accompli in client emails, erases Mohit from website, posts armed guards
L&L Partners managing partner Rajiv Luthra has written an email to clients notifying them that senior partner Mohit Saraf was “no longer authorised” to act on behalf of the firm. The email follows the removal of Saraf’s name from L&L’s website and the posting of armed guards outside the doors of the firm’s corporate office in Delhi.
JSA manages to pay out bonuses on time, inducts freshers (but no fee-earner increments)
L&L (routinely) promotes five to (salaried) partner (+20 other fee-earner promos)
Rajiv Luthra ‘terminates’ Mohit, ‘strips of all authority’ • Mohit ‘retires’ Rajiv, claims to ‘reconstitute firm’ • Split & lit near inevitable [UPDATE-2]
Senior partner Mohit Saraf, who holds a 33.4% equity stake in L&L Partners, has internally announced that managing partner Rajiv Luthra has effectively “retired” and “withdrawn” from L&L Partners and that Saraf would “reconstitute” the firm without him. This latest shot in the war of words follows managing partner Rajiv Luthra’s previously telegraphed announcement that he had
Khaitan to ‘digitally onboard’ all 49 freshers as promised • 27 from NUJS, JGLS, GNLU, NLIU, NLU-J
Khaitan & Co has announced that all 49 law school graduates whom it had made campus offers to over the past years, would join the firm on 12 October 2020.
Mohit Saraf rejects Rajiv Luthra’s 24h ultimatum, counters with one of his own for tonight • UPDATE-2: Luthra announced Harish Kumar, Aniket Sengupta as ‘equity’
L&L Partners senior partner Mohit Saraf has accused managing partner Rajiv Luthra of “misconduct and subterfuge”, “malafide actions” and breaching “fiduciary duties”, in his response to a public 24 hour deadline sent by Luthra in an email on Sunday evening.
Cyril Amarchand nudges staff to return to offices from 19 October, choice ‘entirely voluntary’, evolving long-term WFH policy
Cyril Amarchand Mangaldas has internally announced that the firm “hoped” that staff would “start coming back to work gradually, in a staggered manner” from 19 October.
Latest gambit: Rajiv Luthra gives 24h ultimatum to Mohit or he’ll start handing out not-yet-baked equity to applicants by tomorrow
The managing partner and 66.6% majority equity holder at L&L Partners, Rajiv Luthra, has made an offer to the firm that he would be willing to dilute his equity unilaterally and without the agreement or dilution of 33.4% co-partner Mohit Saraf under a 1999 deed, if the latter does not respond by 6pm today.
Algo boosts Mumbai with SAM corporate partner Abhinav Bhalaik
Algo Legal has laterally added another partner, Abhinav Bhalaik from Shardul Amarchand Mangaldas - alongside Nishith Desai Associates’ Richie Sancheti.
L&L cap markets partner Geeta Dhania quits
Algo partner, TRA co-founder Jitender Tanikella joins AZB Mumbai as counsel
Algo Legal Delhi-based partner Jitender Tanikella has joined AZB & Partners in Mumbai as a counsel today, according to his Linked-in profile.
AZB promotes counsel Punita Gupta to Delhi partnership
AZB & Partners has promoted GLC Mumbai 2010 graduate Punita Gupta to partner.
Nishith Desai home-grown practice head Richie Sancheti to set up funds formation at Algo
Nishith Desai Associates (NDA) investment funds head, Richie Sancheti, who had been with the firm for 13 years, is due to join Algo Legal, we reliably understand.
Alpha Partners grows to 3 partners, promotes disputes head Sumit Roy on back of practice growth
K Law de facto Delhi head Pradeep Ratnam, partner Parul join Kochhar
Kochhar & Co has hired two K Law Delhi partners - Pradeep Ratnam, who effectively headed its office in the city, and Parul Verma; both specialise in banking and finance.
The Zoom call to end all Zoom calls: What happened at Luthra yesterday and what it could mean
Just before 3pm yesterday (Thursday, 24 September), all staff and fee-earners at L&L Partners received an email from managing partner Rajiv Luthra, announcing a virtual townhall for 5pm that day.
SAM promotes 37% more associates than last year, primarily in corp, disputes • Non-Delhi-Mumbai offices see minor growth
Shardul Amarchand Mangaldas has promoted 84 associates to senior or principal associate level, with the majority of these - 58% - being based in the Delhi region, closely followed by Mumbai.